Twitter's battered shares dipped below their IPO price on Thursday as investors worry about the company's ability to grow its user base.
Shares of the San Francisco-based short messaging service fell 5.8 percent to close at $26, after trading as low as $25.92 during the day amid a broader market decline.
Twitter went public in November 2013 at an initial public offering price of $26 per share.
The stock is down 29 percent since Twitter's July 28 earnings report, when it warned that boosting its user growth rate will take a long time.
The challenge for Twitter is broadening the appeal of its service to the mass market amid fierce competition from Facebook as well as messaging apps like WhatsApp or Snapchat. While many people are familiar with Twitter, the company has not been able to convince people that they need it.
In addition, Twitter is also without a permanent CEO, although co-founder Jack Dorsey is at the helm on an interim basis.
Sean “Diddy” Combs seeks bail, citing changed circumstances and new evidence
Sean "Diddy" Combs filed a new request for bail on Friday, saying changed circumstances, along with new evidence, mean the hip-hop mogul should be allowed to prepare for a May trial from outside jail.
Lawyers for Combs filed the request in Manhattan federal court, where his previous requests for bail have been rejected by two judges since his September arrest on racketeering conspiracy and sex trafficking charges.
He has pleaded not guilty to charges that he coerced and abused women for years with help from a network of associates and employees, while silencing victims through blackmail and violence, including kidnapping, arson and physical beatings.
He has been awaiting a May 5 trial at a federal detention facility in Brooklyn.
In their new court filing, lawyers for Combs say they are proposing a "far more robust" bail package that would subject the entertainer to strict around-the-clock security monitoring and near-total restrictions on his ability to contact anyone but his lawyers. But the amount of money they attach to the package remains $50 million, as they proposed before.
They also cite new evidence that they say "makes clear that the government's case is thin." That evidence, the lawyers said, refutes the government's claim that a March 2016 video showing Combs physically assaulting his then-girlfriend occurred during a coerced "freak off," a sexually driven event described in the indictment against Combs.
They wrote that the encounter was instead "a minutes-long glimpse into a complex but decade-long consensual relationship" between Combs and his then-girlfriend.
The lawyers argued that the jail conditions Combs is experiencing at the Metropolitan Detention Center in Brooklyn violate his constitutional... Read More